Swifty Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 a week. Payroll data for the week ended March 15, 2022, are presented below.Employee Hours Worked Hourly Rate Federal Income Tax Withholdings United FundBen Abel 40 $14.00 $59.00 $5.00 Rita Hager 41 16.00 64.00 5.00 Jack Never 44 13.00 60.00 8.00 Sue Perez 46 13.00 62.00 5.00 Abel and Hager are married. They claim 0 and 4 withholding allowances, respectively. The following tax rates are applicable: FICA 7.65%, state income taxes 3%, state unemployment taxes 5.4%, and federal unemployment 0.6%.1. Prepare a payroll register for the weekly payroll. No employee has reached the Social Security limit of $132,900 or the FUTA/SUTA limit of $7,000 2. Journalize the payroll on March 15, 2022, and the accrual of employer payroll taxes. 3. Journalize the payment of the payroll on March 16, 2022. Journalize the payroll on March 15, 2022, and the accrual of employer payroll taxes. (Round answers to 2 decimal places, eg.15.25. Credit account titles are automatically indented when amount is entered. Do not indent manually.)Date Account Titles and ExplanationDebitCreditMar. 15(To record payroll)Mar. 15(To record accrual of payroll taxes.)eTextbook and MediaList of AccountsSave for LaterJournalize the payment of the payroll on March 16, 2022. (Round answers to 2 decimal places, eg. 15.25. Credit account titles areautomatically indented when amount is entered. Do not indent manually.)Date Account Titles and ExplanationDebitCreditMar. 16 Prepare a payroll register for the weekly payroll. No employee has reached the Social Security limit of $132,900 or theFUTA/SUTA limit of $7,000. (Round answers to 2 decimal places, eg. 15.25.)MARRIED Persons – WEEKLY Payroll Period(For Wages Paid through December 2022)If the wages are - And the number of withholding allowances claimed is –o 1|2 3 45 6 7But10At least lessthanThe amount of income tax to be withheld is –1,3161,327124114 10595857566 564637291,3271,338125116 | 10696867767574838301,3381,349127117 10797887868594939311,3491,360128118 | 10899897970605041321,3601,371129119110 | 100908171615242331,3711,382130121111101928272635343341,3821,393132122 112 103938374645445351,3931,404133123 114 | 104948575655646361,4041,415134125115105968676675747381,4151,426136126116 | 107978778685849391,4261,437137127118 | 108988979696050401,4371,448138129119| 109 | 1009080716151411,4481,459140130120 | 111 | 1019182726252431,4591,470141131122 | 112 | 1029383736454441,4701,481142 133 123 113 1049484756555451,4811,492144134 124 115 1059586766656471,4921,503145135126 | 116 | 1069787776758481,5031,514146137 127 117 1089888786959491,5141,525148138128119 1099989807060511,5251,536149139 | 130 | 120 | 1101019181716252

Answered: Swifty Hardware has four employees who…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter7: Employee Earnings And Deductions

Section: Chapter Questions

Problem 7E

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Question

Swifty Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 a week. Payroll data for the week ended March 15, 2022, are presented below.

Employee	Hours Worked	Hourly Rate	Federal Income Tax Withholdings	United Fund
Ben Abel	40	$14.00	$59.00		$5.00
Rita Hager	41	16.00	64.00		5.00
Jack Never	44	13.00	60.00		8.00
Sue Perez	46	13.00	62.00		5.00

Abel and Hager are married. They claim 0 and 4 withholding allowances, respectively. The following tax rates are applicable: FICA 7.65%, state income taxes 3%, state unemployment taxes 5.4%, and federal unemployment 0.6%.

1. Prepare a payroll register for the weekly payroll. No employee has reached the Social Security limit of $132,900 or the FUTA/SUTA limit of $7,000

2. Journalize the payroll on March 15, 2022, and the accrual of employer payroll taxes.

3. Journalize the payment of the payroll on March 16, 2022.

Journalize the payroll on March 15, 2022, and the accrual of employer payroll taxes. (Round answers to 2 decimal places, eg.
15.25. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date Account Titles and Explanation
Debit
Credit
Mar. 15
(To record payroll)
Mar. 15
(To record accrual of payroll taxes.)
eTextbook and Media
List of Accounts
Save for Later
Journalize the payment of the payroll on March 16, 2022. (Round answers to 2 decimal places, eg. 15.25. Credit account titles are
automatically indented when amount is entered. Do not indent manually.)
Date Account Titles and Explanation
Debit
Credit
Mar. 16

Prepare a payroll register for the weekly payroll. No employee has reached the Social Security limit of $132,900 or the
FUTA/SUTA limit of $7,000. (Round answers to 2 decimal places, eg. 15.25.)
MARRIED Persons – WEEKLY Payroll Period
(For Wages Paid through December 2022)
If the wages are - And the number of withholding allowances claimed is –
o 1
|2 3 4
5 6 7
But
10
At least less
than
The amount of income tax to be withheld is –
1,316
1,327
124
114 105
95
85
75
66 56
46
37
29
1,327
1,338
125
116 | 106
96
86
77
67
57
48
38
30
1,338
1,349
127
117 107
97
88
78
68
59
49
39
31
1,349
1,360
128
118 | 108
99
89
79
70
60
50
41
32
1,360
1,371
129
119
110 | 100
90
81
71
61
52
42
33
1,371
1,382
130
121
111
101
92
82
72
63
53
43
34
1,382
1,393
132
122 112 103
93
83
74
64
54
45
35
1,393
1,404
133
123 114 | 104
94
85
75
65
56
46
36
1,404
1,415
134
125
115
105
96
86
76
67
57
47
38
1,415
1,426
136
126
116 | 107
97
87
78
68
58
49
39
1,426
1,437
137
127
118 | 108
98
89
79
69
60
50
40
1,437
1,448
138
129
119| 109 | 100
90
80
71
61
51
41
1,448
1,459
140
130
120 | 111 | 101
91
82
72
62
52
43
1,459
1,470
141
131
122 | 112 | 102
93
83
73
64
54
44
1,470
1,481
142 133 123 113 104
94
84
75
65
55
45
1,481
1,492
144
134 124 115 105
95
86
76
66
56
47
1,492
1,503
145
135
126 | 116 | 106
97
87
77
67
58
48
1,503
1,514
146
137 127 117 108
98
88
78
69
59
49
1,514
1,525
148
138
128
119 109
99
89
80
70
60
51
1,525
1,536
149
139 | 130 | 120 | 110
101
91
81
71
62
52

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